Location: Johnson County, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,360 | $396,199 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 64061 in Johnson County, MO, presents an interesting snapshot when compared to the broader county metrics. The Fair Market Rent (FMR) for 64061 is set at $1060 for fiscal year 2024, which is notably higher than the market rent of $903. This suggests that while government-supported rental rates are higher, the private market rents remain lower, indicating a potential opportunity for landlords who can attract tenants with subsidies.
The median home value in 64061 stands at $353,967, which is a critical figure for understanding the overall cost of living and property investment in the area. If this figure is lower than the average home value across Johnson County, it could signal that 64061 is a value pocket, offering relatively affordable housing options within a potentially more expensive metro environment.
The renter share in 64061 is 5.0%, which is a key indicator of the local housing market dynamics. A lower-than-average renter share might suggest that homeownership is more prevalent, but given the context of Section 8 analysis, a higher renter share would typically be more favorable for landlords looking to benefit from rental assistance programs.
To determine if 64061 is a value pocket, mid-tier neighborhood, or a premium sub-market, we need to consider how these figures compare to the wider Johnson County averages. However, without specific county-wide data points, we can infer that the ZIP's FMR exceeding its market rent, combined with a moderate renter share and a home value that could be considered average or slightly below average, positions 64061 as a mid-tier neighborhood. It offers a balance between accessibility for subsidized renters and reasonable returns on investment for landlords.
Should the home value of 64061 be significantly lower than the county average, coupled with a higher-than-average renter share, this would indeed indicate a sweet spot for Section 8 landlords and investors, as it suggests a neighborhood where rental properties could be acquired at a lower cost and still command rents supported by federal subsidies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.